MONEX GROUP Customer Service = nonexistant

[darren9]

Has anyone ever had issues with MONEX customer service? I placed a request 2 weeks ago to replace my failed debit\credit machine and I have yet to receive a replacement. CSR never follows up on the status of the shipment and it always goes to voicemail. Avoid this company at all costs!

[PCDawg]

I would have to agree. Im with them as well and they shipped out 40+units to me. Some have stopped working and requested replacements and they do not respond at all.

[wheel]

The preceding advertisment is a paid political announcement authorized by the Monex internet reputation management campaign. Thank you for watching.

[FearSonic]

I have a few POS with MONEX and have at times, needed to contact them on a few questions I had and they were quick to assist me and were very friendly. At times the line may be busy but when they are on the phone, they were totally focused on helping me with what I needed.

so, I tend to disagree with these threads and I give MONEX a thumbs up!

New user, resurrecting a very old thread, in defense of a company?

Are you legit, or are you MONEX damage control in disguise?

[wheel]

Mods, please change SmartBusiness's username to Lamb Chop (http://www.lambchop.tv/).

[Frankie3s]

I have a few POS with MONEX and have at times, needed to contact them on a few questions I had and they were quick to assist me and were very friendly. At times the line may be busy but when they are on the phone, they were totally focused on helping me with what I needed.

so, I tend to disagree with these threads and I give MONEX a thumbs up!

You're probably the guy that's supposed to pickup the phone. Thanks for joining to tell us this rubbish.

[ali123]

I have a few POS with MONEX and have at times, needed to contact them on a few questions I had and they were quick to assist me and were very friendly. At times the line may be busy but when they are on the phone, they were totally focused on helping me with what I needed.

so, I tend to disagree with these threads and I give MONEX a thumbs up!

Monex Group Sucks!....

[dattrax7]

that is the worst payment solutions company in the country. they do so many illegal things it's not funny. I worked with them for 2wks when I first got in this industry. I sold 8 terminals in 2wks, but had to stay for 6mths to make sure that my customers finally got the help that they needed. They just got credit card acceptance from paymentec at that time. These guys constantly over deliver and under promise and then rip people off.
they mostly prey on immigrants' need for 'cheap' pricing, then jack them on hidden fees. They have had 2 full page ads in the Business Exchange for over 4yrs that keeps pulling in more and more prey.
they probably have 1000's of small claims cases on them.
I am continually surprised that they are still in business.
I have NEVER met a happy Monex customer and I've been selling payment solutions for over 5yrs now, so the guy on the thread must be a monex paid something or other.

[SmartBusiness]

No, I am not a paid something or other. I just had a good experience with MONEX. You had a comment that is still on the web. I didn't realize it was so old and that old threads like this still remain there.

You had a right to raise your concerns about your experience but I too have a right to comment on my good experience with them.

The guy that used to work for MONEX, are you just a disgruntled employee or what!!!

[wheel]

nm

[SmartBusiness]

Wow, you seem to be so sure of yourself. Seems to me you have nothing better to do than attack a companies reputation. I am not here to advocate for MONEX. I just happened to post a positive comment and now you people have turned it into a personal attack of who I am - goes to show what persoanlity types are on this thread. Go ahead and make your nasty comments. I don't really care. But when you begin to attack my comments, personally, then I care. So, get a life beyond the web world and move on.

[PCDawg]

Wow, you seem to be so sure of yourself. Seems to me you have nothing better to do than attack a companies reputation. I am not here to advocate for MONEX. I just happened to post a positive comment and now you people have turned it into a personal attack of who I am - goes to show what persoanlity types are on this thread. Go ahead and make your nasty comments. I don't really care. But when you begin to attack my comments, personally, then I care. So, get a life beyond the web world and move on.

Can you provde the name of the person you dealt with at Monex? Maybe he is the only person capable of solving some issues some people had. Alot of people there dont now whats going on.

[wheel]

nm

[Koolpun]

I am a small business owner and I used monex debit/credit services , I paid for my terminal and I was overwhelmed with the hidden charges at the same time the service was the worst. I am glad that my contract expired last year and I got rid of them , and yes they do prey on new business owners and new immigrants. BEAWARE OF MONEX :evil:

[little greek]

Monex is holding the company money for more than a week, and I tried to contact them and no body answer, is any way to put my money on my account and close my patch, or should I take a legal action against Monex Financial Inc.

[Beenburned]

Interesting how so much is said, but no details.

For the sake of those not wanting to get burned, here are some questions to ask long before signing!

How long is the contract they are selling? Standard 3 or 4 years or 7!
What is the cancellation fee? $350.00 or $5,000?
What are the details on the fine print on the contract...and do you get a copy?
How fine is the print?
Are the rates they offer saddled with extra (haulage) fees?
What are the fees if any for reports? Do others charge?
What is the customer service number, try calling and see what you get!
What info is showing on the BBB website?
Type in the company name and scam in google...what shows up.
What is the real company name? If it changes every two-three years, why?
Is the company name the same as the name your cheque is made payable?
What is the warranty offered, and when do you end up paying for it?

[pacifistworld]

Paymentech has charged my account for two new fees in early Jan 2009, without giving me any notice at all. They say they charged on behalf of Monex.

first fee is called Annual Membership Fee $89.95; Second fee is Monthly Admin Fee $11

I have small storefront and using Monex for interac , and Paymentech for Visa only. (no other cards, no online sales)for 3 years.

Monex's persistent rep sold me their ingenico dial POS terminal machine for $800+gst upfront 3 years ago. They also charge monthly $10.50 for service fee to maintain this machine. Plus they are charging about 10$ for debits (10c/tx), and 2% for Visa transactions. they had hooked me up with Paymentech.

When I inquired Paymentech about these new fees, They said they started charging these fees on behalf of Monex. and I should ask Monex about it.

I called Monex , they initially did not acknowlege these fees. Second day I called Paymentech again , they transferred my call to a Monex Rep on the phone. He said, they had sent notice to all merchants in Nov 2008 about these new fees. I asked him to send me same letter again by email since i didn't get one. He promised, but he didn't send. He did not say any thing else but that these are the new fees and he can't do anything about it. I said I would cancel the whole service. He said its up to you.

The 3rd day, I called again to send me the copy of the same letter in regular mail. He promised. I am still waiting.

Monex rep told me that new Admin fee is from Paymentech, and I should ask them.

Now I came to know Monex trapped me into 90 months (7.5 yrs) contract, with min. $5000(Five Thousand) penalty for early cancellation. The rep did not mention this at time of sign-up on the first page. Its the tiny print on the second page. Though no page has its own number. The first page is entitled Invoice and Services Agreement. This is a classic example of extreme extortion. They rip you after you get trapped.

I don't know what to do now? I do not enough resources to hire a lawyer. There is no complaint procedure listed on their Canadian website. Who regulates their organization anyway? Both are USA based. They have Canadian operations too.

Can someone help me plz?

[darren9]

Thanks for the info, if you didn't mention the new $89.95 fee I would have never known. I called up Paymentech and they said it was charged on behalf of Monex.

[Beenburned]

It would be great to see a reprint of this letter. What is the basis of adding an annual membership fee? And an added monthly fee...I don't think the contract I have seen provides for this addition. Maybe if there were enough merchants ( and I know there are) that want to launch a class action suit...

[pacifistworld]

Finally I got their letter now. No date, No adressee , no addressor on the page.

The contents are:
Monex group, 111A Zenway Blvd, suite 31, Vaughn, ON L4H 3H9

As you are aware, your Merchant Discount Rate is largely representative of the fees levied by VISA and MasterCard. In April and Nov of of this year (2008) VISA and Mastercard increased their the cost for all Canadian merchants.

Effective Dec 1st, 2008, Monex will implement a new pricing structure that will better account for ongoing changes in the payment card industry. Your new pricing will better reflect the manner in which your business accepts and processes VISA and Mastercard transactions.

What will change:

1. Mastercard Interchanges levels and rates will change effective Nov 1st, 2008 and be reflected in your Dec statement;
2. A new Merchant Account Maintenance and Operations (MAMO) annual fee of $89.95 will be introduced and take effect on Dec1, 2008 and be reflected in your Jan 2009 statement.
3. The Merchant Monthly Statement fee will change from $10 to 11$ per month.
4. The fee for processing chargebacks will be up from $25 per item to $50 per item.

Simple ways to manage your cost:
Close batches daily and do not leave any open for longer than 3 days. Always swip/dip the card instead of entering the numbers manually.

For details of your specific changes, plz logon to your account online at monexgroup.com or call us at 1866-286-7787.

--------------------------------------------

I am not clear from this letter if this 89.95 fee will still apply if i switch to other credit card processor? keeping monex just for debit transactions?

They do not explain this. Plus I dont receive Merchant Monthly Statement form Monex. and Visa processor paymentech only emails me visa staement. ( i dont have mastercard service) . Is Paymentech charging $11 just for online statements? Before they did not charge me this fee at all for 3yrs. Monex told me on phone that this 11$ is charged by Paymentech .

[JimDaya]

I have read all the complaints about the monex scam.
We all have issues with this company.
I think we should all get together and file a class action.
First thing to do is to get all the facts together, make a file and write down all the issues you had/have. Second is to file a complaint to the better business bereau and then maybe get Silverman Helps to get in on the action. If people see it on National TV maybe that would help.Third is to go to the small claims court.
Post all your complaints and lets together.

[AnneV]

I am presently involved in a small claims court case with Monex representing myself.

I am looking for people with valid issues that are clearly documented who would be interested in working with a lawyer or with the media to address these issues that are not proper business practices/ethics with Monex.

I don't have the answers, but I think as a collective we can do something about this unpleasant situation.

Does anyone know of a lawyer or media contact who would be willing to take this project on?

Feedback welcome.
Thanks

[pietrojackson]

Finally I got their letter now. No date, No adressee , no addressor on the page.

The contents are:
Monex group, 111A Zenway Blvd, suite 31, Vaughn, ON L4H 3H9

As you are aware, your Merchant Discount Rate is largely representative of the fees levied by VISA and MasterCard. In April and Nov of of this year (2008) VISA and Mastercard increased their the cost for all Canadian merchants.

Effective Dec 1st, 2008, Monex will implement a new pricing structure that will better account for ongoing changes in the payment card industry. Your new pricing will better reflect the manner in which your business accepts and processes VISA and Mastercard transactions.

What will change:

1. Mastercard Interchanges levels and rates will change effective Nov 1st, 2008 and be reflected in your Dec statement;
2. A new Merchant Account Maintenance and Operations (MAMO) annual fee of $89.95 will be introduced and take effect on Dec1, 2008 and be reflected in your Jan 2009 statement.
3. The Merchant Monthly Statement fee will change from $10 to 11$ per month.
4. The fee for processing chargebacks will be up from $25 per item to $50 per item.

Simple ways to manage your cost:
Close batches daily and do not leave any open for longer than 3 days. Always swip/dip the card instead of entering the numbers manually.

For details of your specific changes, plz logon to your account online at monexgroup.com or call us at 1866-286-7787.

--------------------------------------------

I am not clear from this letter if this 89.95 fee will still apply if i switch to other credit card processor? keeping monex just for debit transactions?

They do not explain this. Plus I dont receive Merchant Monthly Statement form Monex. and Visa processor paymentech only emails me visa staement. ( i dont have mastercard service) . Is Paymentech charging $11 just for online statements? Before they did not charge me this fee at all for 3yrs. Monex told me on phone that this 11$ is charged by Paymentech .

---------
Hi - the increase of $89 is a Monnex fee - although some of the other processors have also raised fees since September using the discount rate, other fees, and the transaction rate. These increases are way out of line with the actual Visa/MC increases - just an excuse for another 'fee' that wasn't in the original deal.

For next steps i should look at the contract. If the rate is punitive [more than the cost of the terminal] its unenforceable and you can just walk away.
I would lash back with breach of contract for the new charges - dicey since there's probably a clause to say they can increase charges without substantiation. But what are they going to do ? Go to court for every $300 termination clause - bad publicity for them + these guys are essentially financial institutions dealing in Billions of dollars so this is too much trouble for them.

Pietro

[pacifistworld]

Hi pietrojackson,
Thanks for your input. You got good sentences to use against them.

You may not know that termination clause puts min $5000(five thousand) penalty on the merchant if broken within 7 yr!!!, not $300, in Monex group contract that they did not tell upfront. Very cruel and cunnung rep slipped the 2nd page quietly after getting the signature on the first page, while removing the Lease paper that said 48 months with no $5000 fine anywhere. I had both papers, since I bought, not leased, the Ingenico i5300 POS terminal machine for about $900.

I called Paymentech, they said both new charges are for Monex, nothing for them. i am preparing a letter for both.

Any new ideas will be appreciated.

[sammor]

I too received the 89.00 fee on my statement. I talked to paymentech and they said it was a Monex charge. I talked to Monex and the guy on the phone could not really explain what it was for. I asked to have it reversed or tell me what it would cost to cancel my contract, he said he would look into it. That was 1 month ago and still no reply. Who has time to hound these people when you're trying to run a business. This is why they get away with it because no-one can be bothered enough to do anything about it. We have to pool together and launch a media campaign like Silverman helps or CBC Marketplace and or a class action lawsuit. Is anyone aware of one currently in progress?

[1V4N]

Monex is a good for nothing company that is horrible with both customer service and their hidden fees are a joke.

We bought our terminal from them (instead of renting) which was a big mistake.

When we first started our online biz, my wife and I signed up with them only to find out after several months that AMEX couldn't work with them.....even though they (Monex) had confirmed (prior to our signing with them) their POS worked with VISA/MC/AMEX :mad:

We lost quite a few sales because AMEX couldn't be processed through the terminals.....this dragged on for several months!

Eventually after too many calls regarding our ongoing issues, Monex finally admitted their POS was unable to work with AMEX -- they made us jump through hoops to prove it to them, even though AMEX techs confirmed on their side things worked.

After so many months with them, and the issue of no AMEX, we were fed up so we went to their HQ, and we escalated it to upper management (we found out it was the wife of the owner!) however she made us wait a week for our refund on the POS, and unfortunately made us pay a restocking fee even though it was their fault for the "incompatibility" and lies....we decided rather than keep losing time and money, we'd rather end our relationship with them.

Ultimately we found a great POS by the name of UNPS which did things the right way, and we've been with them for over 5 years now!

I would never ever refer another person/business to such a shady run company called MONEX again.

[shepkraft]

To anyone having problems with their merchant provider (the company that processes a businesses credit / debit card sales) - Please go and speak with your bank manager, explain the situation and have "stop payment" applied to these companies that think they have the right to take advantage of small business this way.
Earlier this year I had a situation where Cardex / Pivotal Payments were withdrawing 3.75% on my 1.8% contract. After a month of frustration, I finally went to my bank manager and explained. I took copies of contract, merchant statements, a month of correspondance between Cardex, Global Payments and myself and asked that the bank issue stop payments. Make sure you find out the different names the companies operate under. For 4 months they attempted to take out thousands of dollars from my account but the stop payment wouldn't allow it.
Please talk to your bank manager. From my experience some of these companies have questionable ethics - don't let them get your money too.

[richie70]

could you tell me how did you get rid of monex?!

Monex is a good for nothing company that is horrible with both customer service and their hidden fees are a joke.

We bought our terminal from them (instead of renting) which was a big mistake.

When we first started our online biz, my wife and I signed up with them only to find out after several months that AMEX couldn't work with them.....even though they (Monex) had confirmed (prior to our signing with them) their POS worked with VISA/MC/AMEX :mad:

We lost quite a few sales because AMEX couldn't be processed through the terminals.....this dragged on for several months!

Eventually after too many calls regarding our ongoing issues, Monex finally admitted their POS was unable to work with AMEX -- they made us jump through hoops to prove it to them, even though AMEX techs confirmed on their side things worked.

After so many months with them, and the issue of no AMEX, we were fed up so we went to their HQ, and we escalated it to upper management (we found out it was the wife of the owner!) however she made us wait a week for our refund on the POS, and unfortunately made us pay a restocking fee even though it was their fault for the "incompatibility" and lies....we decided rather than keep losing time and money, we'd rather end our relationship with them.

Ultimately we found a great POS by the name of UNPS which did things the right way, and we've been with them for over 5 years now!

I would never ever refer another person/business to such a shady run company called MONEX again.

[Beenburned]

ATM's are an easy solution. Post a sign on the ATM that it is down. When the rep comes by to fill it, tell him someone told you it wasn't working and you posted the sign. Keep doing this. Eventually they will pull the machine because theyare not making any money with it. No transactions = no profits.
If you are to load the machine, just don't.

They WILL take you to court. They will not win, because they have no agreement wth you, and as such you are not bound to the agreement. If need be, represent yourself in small claims court and you will be fine. They strong arm most because most are afraid to try.

Most importantly you need to document the attempts you have made to have them take away the machine. In court, they will need t answer to why they expect a contract to be kept, even when they didn't keep thier end of the bargain.

Prepare for any case with copies of all these comments posted, copies of the BBB on-line, as well as copies of any documents that they gacve you..usually pages are missing!

[Beenburned]

Hi pietrojackson,
Thanks for your input. You got good sentences to use against them.

You may not know that termination clause puts min $5000(five thousand) penalty on the merchant if broken within 7 yr!!!, not $300, in Monex group contract that they did not tell upfront. Very cruel and cunnung rep slipped the 2nd page quietly after getting the signature on the first page, while removing the Lease paper that said 48 months with no $5000 fine anywhere. I had both papers, since I bought, not leased, the Ingenico i5300 POS terminal machine for about $900.

I called Paymentech, they said both new charges are for Monex, nothing for them. i am preparing a letter for both.

Any new ideas will be appreciated.

If you did not initial the back page of the contract, the one with the small print and fee clauses, at the time of signing, or afterwards, then in court it will be impossible for them to prove you were signing the full contract. If you didn't see the back page, then you have cause to fight. Hopefully there was someone with you when you signed the front page who saw that there was no back page signed.

Yes, I am suprised that no one has had any of the newspapers, TV show and support groups as such, do a major investigation of thier poor business practices! If one (CBC?) was chosen, and a bunch of individuals all approached them, they would be sure to get great feedback and a great story.

An interview with the Juvenile Owner, and/or his family and friends who protect him, would be worth watching!

They have misrepresented themselves to so many merchants, that they would come out of the woodwork for any such investigation.

And yes, you need to stop payment with your bank to ensure that any number of different named companies don't try to take funds out of your account...

[Beenburned]

http://www.cbc.ca/marketplace/about/contact/we_want_to_hear_from_you.html

If EVERYONE with a ligit beef submited a form, they will be sure to act on a case like this. It's big news. But you need to be willing to post the complaint with your full contact information.

Someone, or a bunch of individuals registering a complaint would get the ball rolling...C'mon, we know you ar e out there!

Who's ready to stand up and be counted!!!

[pacifistworld]

Thank you Beenburned!

I did not realize that 2nd page must be initialed in order to be valid!

thats good news. I did not initial it. The rep slipped it quietly. I just signed on the first page that does NOT say anything about 90 months contract or $5grand penalty.

They cannot impose their hidden 90 months+$5grand penalty.

I am really thankful to you for pointing it out.

I'd love to join the CBC or similar campaign against Monex. But can't give much time since i run my small store alone, and have a family with 2 small kids.

Any other people? Any other ideas?

Is it OK to disclose the Monex contract to CBC etc? Is it confidential or what? But I believe once they are breaching out their own contract, we can disclose their contract too? it should be no big deal.

thanks

[gustoff]

Hi guys,

Is there any update with any of these complaints?

I am currently indifferent about Monex and wanting to learn more. Obviously after reading 3 pages of complaints they are not seeming like very good company.

I'm wondering if anyone has an update on their complaints from Monex or any information that you could lend me about them?

What other hidden costs do they have?

Thanks.

[gustoff]

Hi guys,

Is there any update with any of these complaints?

I am currently indifferent about Monex and wanting to learn more. Obviously after reading 3 pages of complaints they are not seeming like very good company.

I'm wondering if anyone has an update on their complaints from Monex or any information that you could lend me about them?

What other hidden costs do they have?

Thanks.

[Beenburned]

Indifferent about MONEX?!? The whole world is in a credit crisis, and you are indifferent?!?

If it can be said that Debit and Credit providers are one notch above lawyers as the scum of the business world, then Monex is the bottom of the group.

Latest ad says a 0.50% reduction of your rates....watch for even higher rates of transactions fees or what I believe is called haulage then....

And who could possibly even get 1.39% these days!

Any ohers out there who didn't see a back page of a contract...until it was too late? Some companys out there don't even have a back [age of a contract....

[MrGamma]

I'm going to guess...

You get what you pay for... in this case you get nothing!

[cantwin]

Indifferent about MONEX?!? The whole world is in a credit crisis, and you are indifferent?!?

If it can be said that Debit and Credit providers are one notch above lawyers as the scum of the business world, then Monex is the bottom of the group.

Latest ad says a 0.50% reduction of your rates....watch for even higher rates of transactions fees or what I believe is called haulage then....

And who could possibly even get 1.39% these days!

Any ohers out there who didn't see a back page of a contract...until it was too late? Some companys out there don't even have a back [age of a contract....

yea if you believe that 1.39 is out there, prepare yourself for hidden fees

[treasure]

Hi,
What ever you do, DO NOT SIGN ANYTHING WITH MONEX!
Read what BBB also have to say about them. At least one complaint every week. And also, watch out for all the other companies they deal with. What I have seen so are they only some kind of umbrella company for many other. Debit is one company, creditcard another, the machine another (this company work from USA). And the biggest scam is WARRANTY! Big money for them, so watch out.
I have been fighting with them over one year. The methods of business is not honest. The salesperson we had got cold feets when we started to ask questions, he quit his job! That man did not even know what he was selling!!! For the moment we are in a lease lasting for four years, but I can hardly wait until the day we are going to cancel this ****. 120 days before we signed it we can cancel. I have it written in my calender and a letter prepared to be sent.

[phz3]

Hi,

Currently this is my situation with Monex. My mom (who barely speaks any english)

Is with Monex and she signed the agreement. Now the business is closing and we would like to cancel the service with Monex but they are asking for $700 dollars.. the person i have spoke to has said they will take it to court etc.. other usual threats..

now I see the 2nd page which says its for 90 months plus a $5000 dollar cancellation fee!! (for a business that went out of business!) .. I asked my mom why should would sign it but she was unaware of all those details !

there is no signature/initial on the 2nd page..

Are you sure that without the initials on the 2nd page we can go to court and win?


If you did not initial the back page of the contract, the one with the small print and fee clauses, at the time of signing, or afterwards, then in court it will be impossible for them to prove you were signing the full contract. If you didn't see the back page, then you have cause to fight. Hopefully there was someone with you when you signed the front page who saw that there was no back page signed.

Yes, I am suprised that no one has had any of the newspapers, TV show and support groups as such, do a major investigation of thier poor business practices! If one (CBC?) was chosen, and a bunch of individuals all approached them, they would be sure to get great feedback and a great story.

An interview with the Juvenile Owner, and/or his family and friends who protect him, would be worth watching!

They have misrepresented themselves to so many merchants, that they would come out of the woodwork for any such investigation.

And yes, you need to stop payment with your bank to ensure that any number of different named companies don't try to take funds out of your account...

[richie70]

Is there anyone stand up to fight Monex in the court?

[MrGamma]

Is there anyone stand up to fight Monex in the court?

I don't get it? They clearly wrote the cost of doing business on their contracts. How exactly is taking them to court going to get someone out of a business arrangement that clearly wasn't evaluated properly?

I hate to say it... but this thread is more like a moan and groan, cry me a river thread than any sort of serious "un-justice" to the Canadian people.

jmo...

I know of far worse deals going on everyday with American companies coming up from across the border... At least Monex employs Canadians... no wonder they charge you to back out of a business deal with them... They have to pay their own costs... If you can't afford to do business with them...

Then why do the business? Just asking... because I really don't have the answer as to why people will sign contracts for things they clearly don't read.

[richie70]

Beside the hiden fee and extra fee, Monex don't provide the statement. you do not know if the amount between host side and teminal side is matched when you close batch.

if it is not matched, that means you lost money.

[MrGamma]

Beside the hiden fee and extra fee, Monex don't provide the statement. you do not know if the amount between host side and teminal side is matched when you close batch.

if it is not matched, that means you lost money.

Whoops... My Mistake... this is clearly a company which is Canadian because they say, "They are Canadian."

Hey... looks like they started out selling watches too...

http://web.archive.org/web/20010815120222/http://www.monexgroup.com/products.html#

And I thought there were crazy ivy league templated companies slipping up from across the border... silly of me to think it really...

a 5,000 cancellation fee is a clear indication that they have the infrastructure needed to support local business...


Hmmmnnn... They have 120 reps across all major cities in Canada...

http://www.monexgroup.com/AboutUs.aspx

How exactly do I contact one of those reps? No... nobody could have seen this one coming... "cry me a river"... jmo...

OMG... "Monex Group is Canada’s premiere ATM provider, Offering a complete ATM solution that fits your needs."

http://www.monexgroup.com/ATM.aspx

http://www.monexgroup.com/images/products/NH-1500_small.jpg

This guy should have at the very least hired a graphic designer to do the job right... jmo...

EDIT

My Mistake... they are hiring Canadians...

http://www.simplyhired.ca/job-id/ywwcw4lv6f/litigation-paralegal-jobs/

[phz3]

bump

[Japhi]

Monex is definately the provider that I hear the most complaints about.

There are only 6 top level processors in Canada; First Data, TD, Moneris, Paymentech, Elavon and Global Payments. Everyone else (Pivotal, Collective POS, POS West) are resellers.

Moneris processes for Monex. Moneris owns the Visa/MC entitlements and Monex owns the terminal and debit. Monex makes most of their money on terminal sales/swaps and debit minimums (usually $20).

Their margin on the Visa/MC is so low their model can't support the customer services required to service merchants properly. So they lock you down with a crazy early termination fee.

If your terminal breaks down - tough luck, they'll sell you a new one.

Morale of the story; read your contract - payment processing is no different than a line of credit or bank loan. It's serious business and you need to know what you are commiting to.

[richie70]

Hi, Do you know the guy's name? is he say he is "John".?


Hi,

Currently this is my situation with Monex. My mom (who barely speaks any english)

Is with Monex and she signed the agreement. Now the business is closing and we would like to cancel the service with Monex but they are asking for $700 dollars.. the person i have spoke to has said they will take it to court etc.. other usual threats..

now I see the 2nd page which says its for 90 months plus a $5000 dollar cancellation fee!! (for a business that went out of business!) .. I asked my mom why should would sign it but she was unaware of all those details !

there is no signature/initial on the 2nd page..

Are you sure that without the initials on the 2nd page we can go to court and win?

[treasure]

Read this about Monex on BBB´s website.
http://mwco.bbb.org/WWWRoot/Report.aspx?site=160&bbb=0107&firm=1082646#complaint

[intoDesign]

...

[phz3]

He said his name is Ray but his email is raheel@monexgroup.com
Hi, Do you know the guy's name? is he say he is "John".?

[richie70]

Haha!
Finally, Monex removed the ATM from store.here is solution:http://www.ripoffreport.com/reports/0/261/RipOff0261154.htm#246073

follow these steps I think you will be ok. Go to court is last step.not the best.



Hi,

Currently this is my situation with Monex. My mom (who barely speaks any english)

Is with Monex and she signed the agreement. Now the business is closing and we would like to cancel the service with Monex but they are asking for $700 dollars.. the person i have spoke to has said they will take it to court etc.. other usual threats..

now I see the 2nd page which says its for 90 months plus a $5000 dollar cancellation fee!! (for a business that went out of business!) .. I asked my mom why should would sign it but she was unaware of all those details !

there is no signature/initial on the 2nd page..

Are you sure that without the initials on the 2nd page we can go to court and win?

[highvelocity]

hmm I know somebody who does commission sales for them (but doesn't actually work for monex).. he doesn't seem like a sketchy guy!
this is very appalling to read.

[Harryp]

I have read all the complaints about the monex scam.
We all have issues with this company.
I think we should all get together and file a class action.
First thing to do is to get all the facts together, make a file and write down all the issues you had/have. Second is to file a complaint to the better business bereau and then maybe get Silverman Helps to get in on the action. If people see it on National TV maybe that would help.Third is to go to the small claims court.
Post all your complaints and lets together.


This needs to be done.

[ETYPE66]

Can anyone recommend a good credit card processor? Thank you.

[Japhi]

Every company will tell you they are the best processor for you. You're get a bunch of people PMing you low dangler rates.

The reality is everyone has different price and service models. What type of business are you in? What is most important to you? Price, service, reliability, product?

Are you a member or the Chamber or CFIB?

Give me some more info and I'll make a recomendation.

[pierredangereux]

Is there anyone stand up to fight Monex in the court?

It's an easy solution. Let's all go after Paymentech, who fully agree they hate Monex too, on the slightest slip Monex makes and convince them that they are complicit in this fraud. If Paymentech can get out of their deal with Monex, we'll all be freed. No judge will ever side with Monex once the facts come out.

Meanwhile, I'm going after my salesman with a vengeance. Many lies and omissions!

[cooolway]

I am signing up with monex right now....
edit:
lol, I showed Monex rep this thread. He just kept saying that they are lies and that they can't make everyone happy. He told me to email him the thread.

[sonyas]

thanks to this thread, i won't sign up to monex!

a sales consultant came by my store offering good rates.

as the conversation elapsed, i kept of discovering that there was a fee for this, fee for that. even the attachment pinpad needed to have a monthly fee.

i tried calling customer service just to verify the sales rep's identity, but i ended up nowhere in their phoney system.

thank you RFD!

geez!

[coreamomo]

I read all of your posts, and realized that the stories are similar to mine..
I'm planning on going to court. and I live in Sarnia.
Anyone intrested doing this with me?

[richie70]

I read all of your posts, and realized that the stories are similar to mine..
I'm planning on going to court. and I live in Sarnia.
Anyone intrested doing this with me?

I am doing this right know! as i know, monex are suing many small stores.
you can go to small claim court and you can see almost every day there are many activity events invovling monex.

[richie70]

I am signing up with monex right now....
edit:
lol, I showed Monex rep this thread. He just kept saying that they are lies and that they can't make everyone happy. He told me to email him the thread.

HaHa! Good luck! next time see you in the small claim court!

Do you know why they need these treads?

[richie70]

hi guys, who know the legal name of Monex? how many trame names ? monex express POS solution? or Monex express financial INC? Monex group?
Money machine? or are these company controled by same peoples?or else?

[treasure]

This I found on CCBBB´s webpage, http://www.bbb.org/canada/Find-Business-Reviews/#middle-result
Monex Group aka Money Express POS Solutions Inc.
31-111A Zenway Blvd
Woodbridge, ON L4H3H9

Good Luck! Keep us posted.

[richie70]

So you have been ripped off by Monex? You are not alone ...

It's indeed sad that the government is yet to take any action against them. Nonetheless, write to us with your personal details if you are interested to join us to file a class action against them.

As a responsible citizen, we urge you to report your predicament by first lodging a formal complaint with RipOffReport.com , Better Business Bureau (BBB)and Competition Tribunal Canada prior to contemplating any legal action.

RipOffReport.com
ripoffreport.com/

Better Business Bureau
bbbmwo.ca
Email: info@bbbmwo.ca

Competition Bureau Canada
There are 4 ways to file a complaint: -

File a complaint on the Internet
competitionbureau.gc.ca/internet/index.cfm?itemID=1260&lg=e&CFID=9768356&CFTOKEN=31080417

File a complaint by Email
compbureau@cb-bc.gc.ca

File a complaint by phone or by fax
Toll-free: 1 800 348-5358
Fax: (819) 997-0324

File a complaint by mail
Competition Bureau
50 Victoria Street
Gatineau, Quebec
K1A 0C9

[butternut]

I see much shamazel but no zeel. Lots of accusations but no proof. Search Can Law, one case of a disgruntled employee, (which was settled out of court)not the hundreds of small claims cases stated. As far as one company hating another, pretty strong accusation based on? ..because an individual has to close their business for poor management or illness or whatever, why does that become a problem for services holder's contract? The letter about increases was'nt understood, what did the company tell you when you phoned them, as it states to do in the letter, if you were unclear? The company with the most complaints you say? Interesting the facts are not correct to the partnered companies! Moneris would be a competitor. Sneaky sales people? Or perhaps human error? About not being enforcable because it was not initialed? At what point was this found out? The first or second month statment? A contract is the meeting of the minds for mutual benefit, can you say that you received no benefits?.... more than likely these issues were found out after someone for whatever reason down the road decided to get out of the contract. As far as the BBB goes, this company has a B rating 29 complaints, 29 resolutions, pretty good addressing every complaint even if it was frivilous. RBC only has a B+ rating, with no complaints against it. Why because it is not a member. BBB is not an independent source, it has much to gain by rating business, like influencing membership.....and the exemployee that has never found a happy customer for this company, stated it was his first job in this industry, that he had to stay around to help people, I am sure he should be sainted, 6 months no pay, just to look after his first 8 customers, kinda hard to believe along with the accusations of doing "so many things illegally"...jmo....just common sense and a little searching on this wonderful WWW...ta, ta

[bitbybitcustom]

:mad:I have been with Monex for 1 year now. I am a small home based business that goes to trade fairs and community sales and don a few custom orders. I have had a headache with the darn unit and Monex from day 2. I am leasing the machine, and am still waiting for a "real" insturction manual(or link to one) from them, the machine has had nothing but issues, the prices that they e-mailed me and the answers they gave me to the tons of questions I asked by email before signing on, are all different from what they are charging me, I am paying extended warranty and yet they expect me to pay for things covered by warranty, they admitted and overbilling and promised to issue me a refund - months ago and still waiting, and now they are just not answering any emails, phone calls (on hold for 49 minutes before I gave up).... I would love to get together with other people that have had similar problems and go as a group to the office and demand results that day, or we all go to court. They are so misleading in thier e-mails and thier ads, it is sicking. I have processed under $1,500.00 in a year because of machine issues and no one to call at tech/customer support.
I want out of my contract and son't ever want to see them again.

[richie70]

see how people complaint

http://www.ripoffreport.com/miscellaneous-companies/john-kassoulides/john-kassoulides-director-bus-7be3d.htm

[richie70]

another example

http://www.ripoffreport.com/credit-card-processing-ach-companies/monex-money-express/monex-money-express-financials-d4j39.htm